local
Newsom, opponent of California billionaire tax, calls for national billionaire tax
By Brett Stover at Yourbasin / Big 2 KMID + Fox 24 KPEJ (Nexstar)
· June 26, 2026
· 1 min read
As he approaches a widely-expected run for the White House, California Gov. Gavin Newsom began a political tightrope act Friday, announcing support for a national "billionaires' tax" while simultaneously reaffirming his opposition to a ballot measure that would implement one in California.
Key takeaway Gavin Newsom began a political tightrope act Friday, announcing support for a national "billionaires' tax" while simultaneously reaffirming his opposition to a ballot measure that would implement one in California.
Why this matters in The Odessa
In the Permian Basin, where oil and gas wealth has created its own set of billionaires, the concept of a billionaires' tax is likely to resonate with some residents who feel that the wealthy should contribute more to the community. As California Gov. Gavin Newsom navigates his potential presidential run, his stance on a national billionaires' tax may appeal to voters in Odessa who are concerned about economic inequality. However, Newsom's simultaneous opposition to a similar tax in his home state of California may raise questions about his commitment to the issue. Locals will be watching to see how Newsom's position on this tax plays out, particularly if it becomes a key part of his presidential platform. The response from Odessa's own wealthy residents and business leaders will be worth monitoring, as they may have a significant impact on the local economy.
About this story
Original reporting by Yourbasin / Big 2 KMID + Fox 24 KPEJ (Nexstar) . The Odessa surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit Yourbasin / Big 2 KMID + Fox 24 KPEJ (Nexstar) . Have a tip or correction? Contact our newsroom .
Category: local ·
Published: June 26, 2026 ·
Source: Yourbasin / Big 2 KMID + Fox 24 KPEJ (Nexstar) ·
Reading time: 1 min
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Frequently asked about this story
What is this story about? As he approaches a widely-expected run for the White House, California Gov. Gavin Newsom began a political tightrope act Friday, announcing support for a national "billionaires' tax" while simultaneously reaffirming his opposition to a ballot measure that would implement one in California.
When was this published? This article was first published on June 26, 2026 by Yourbasin / Big 2 KMID + Fox 24 KPEJ (Nexstar) and curated for The Odessa readers.
Who reported this story? This story was reported by Brett Stover at Yourbasin / Big 2 KMID + Fox 24 KPEJ (Nexstar). To learn more about how The Odessa selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more local coverage from The Odessa, or browse our daily briefing and topic hubs .
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